Interval Partners LP Makes New Investment in Flywire Co. (NASDAQ:FLYW)

Interval Partners LP bought a new stake in shares of Flywire Co. (NASDAQ:FLYW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 144,311 shares of the company’s stock, valued at approximately $2,365,000. Interval Partners LP owned about 0.12% of Flywire as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. William Blair Investment Management LLC raised its position in Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after buying an additional 6,519,598 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Flywire by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock valued at $269,486,000 after buying an additional 100,704 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Flywire by 10.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock valued at $120,018,000 after purchasing an additional 450,760 shares during the period. Eventide Asset Management LLC lifted its holdings in shares of Flywire by 3.2% in the fourth quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock worth $97,306,000 after buying an additional 131,996 shares in the last quarter. Finally, Capital International Investors lifted its stake in Flywire by 21.8% in the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock worth $62,819,000 after purchasing an additional 485,654 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO David R. King sold 3,504 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the sale, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David R. King sold 3,353 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at $11,188,119.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company decreased their price objective on Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, BTIG Research reduced their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $16.49 on Tuesday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -149.91, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $32.84. The business’s 50 day simple moving average is $17.78 and its 200-day simple moving average is $19.00.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. During the same quarter last year, the business earned ($0.15) EPS. Flywire’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts anticipate that Flywire Co. will post 0.06 earnings per share for the current year.

Flywire Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.